VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 29, 2012) - Galore Resources Inc. (TSXV:GRI) has closed its non-brokered private placement offering of CDN $750,000 announced on Wednesday May 2, 2012. The total number of securities issued in the financing consists of 7,500,000 Units priced at $0.10 per unit.

Each unit (a "Unit") consists of one common share and one share purchase warrant ("Warrant"). Each Warrant is exercisable into one additional common share at a price of $0.20 per share for a period of eighteen months, expiring November 24, 2013.

The Company has paid a cash finder's fee of $23,000 in connection with the private placement to certain parties who were instrumental in introducing investors to the Company. In addition, the Company issued 287,500 Finders Compensation Options, exercisable for a period of eighteen months at a price of $0.20 into 287,500 common shares and 287,500 share purchase warrants. Each warrant issued on exercise of the Finders Compensation Option has the same terms as the Warrants issued in the private placement. All securities issued by the Company in connection with the private placement are subject to a statutory hold period and may not be traded until September 26, 2012.

The proceeds of the placement will be used to execute an exploration program that will include drilling on Galore's 100% owned Mexico-based Dos Santos project. Based on strong gold numbers and intercepts in 20 of 32 shallow holes announced in January of 2012 a more extensive deep-drill exploration program at El Alamo will be the focus of the upcoming program. In addition, a portion of the proceeds will be used for general working capital.

Galore Resources is a Canada-based exploration company with a leading group of industry professionals dedicated to the acquisition and exploration of promising resource deposits with an emphasis on gold in Mexico and base metals in Canada. For more information on Galore Resources Inc. (TSXV:GRI) visit www.galoreresources.com.

Michael W. Byrne, President

Explore. Drill. Discover.

Cautionary Note Regarding Forward-Looking Information: The Company expressly warns readers not to rely on the information herein for investment or other related purposes. Accordingly, any use of this information is at your own risk and without liability to the company. The information contained herein is not, and under no circumstances is to be construed as either a public or a private offer or solicitation to purchase securities in the capital stock of Galore Resources Inc. The reader is referred to his/her professional investment advisor regarding investment or related decisions respecting the securities of the company. No securities commission or similar regulatory authority has passed on the merits of or reviewed the information contained herein.